Confluence Investment Management LLC Decreases Holdings in Goldman Sachs BDC, Inc. $GSBD

Confluence Investment Management LLC decreased its holdings in Goldman Sachs BDC, Inc. (NYSE:GSBD) by 44.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,821 shares of the financial services provider’s stock after selling 60,187 shares during the period. Confluence Investment Management LLC owned 0.07% of Goldman Sachs BDC worth $704,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GSBD. CWM LLC raised its position in Goldman Sachs BDC by 187.8% during the third quarter. CWM LLC now owns 4,864 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 3,174 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Goldman Sachs BDC in the 3rd quarter worth approximately $51,000. Quantbot Technologies LP purchased a new position in shares of Goldman Sachs BDC in the 2nd quarter worth approximately $62,000. Advisory Services Network LLC bought a new position in shares of Goldman Sachs BDC during the 3rd quarter valued at approximately $68,000. Finally, Gilman Hill Asset Management LLC bought a new position in shares of Goldman Sachs BDC during the 3rd quarter valued at approximately $102,000. Hedge funds and other institutional investors own 28.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GSBD. Lucid Cap Mkts upgraded Goldman Sachs BDC to a “hold” rating in a research report on Monday, December 15th. The Goldman Sachs Group initiated coverage on shares of Goldman Sachs BDC in a research report on Monday, December 15th. They set a “neutral” rating and a $10.50 price objective on the stock. Truist Financial reduced their target price on shares of Goldman Sachs BDC from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Weiss Ratings raised shares of Goldman Sachs BDC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, March 5th. Finally, Wells Fargo & Company cut their price target on shares of Goldman Sachs BDC from $9.00 to $8.00 and set an “underweight” rating on the stock in a report on Monday, March 2nd. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Goldman Sachs BDC currently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Goldman Sachs BDC Price Performance

GSBD opened at $9.08 on Friday. The business has a fifty day moving average of $9.27 and a 200 day moving average of $9.78. Goldman Sachs BDC, Inc. has a 52-week low of $8.81 and a 52-week high of $12.39. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.32. The stock has a market cap of $1.02 billion, a P/E ratio of 8.73 and a beta of 0.62.

Goldman Sachs BDC (NYSE:GSBD) last released its earnings results on Friday, February 27th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Goldman Sachs BDC had a return on equity of 12.23% and a net margin of 32.62%.The business had revenue of $38.79 million for the quarter, compared to analyst estimates of $87.18 million. As a group, sell-side analysts anticipate that Goldman Sachs BDC, Inc. will post 2.19 EPS for the current year.

Goldman Sachs BDC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st will be issued a $0.32 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.1%. Goldman Sachs BDC’s dividend payout ratio is presently 123.08%.

Goldman Sachs BDC Profile

Goldman Sachs BDC, Inc (NYSE: GSBD) is an externally managed, closed-end, non-diversified management investment company organized as a business development company (BDC) under the U.S. Investment Company Act of 1940. The company’s primary objective is to generate current income and capital appreciation through debt and equity investments in U.S. middle-market companies. It principally invests in senior secured loans, mezzanine debt, preferred equity and, to a lesser extent, common equity, focusing on sponsor-backed transactions and special-situation financings.

The fund is advised by affiliates of Goldman Sachs Asset Management’s Private Credit Group, leveraging the firm’s global research capabilities and risk management infrastructure.